Kirkland Condos: Sold (2007) and for Sale (2008)
Let’s take the 12-month bar graphs of Kirkland condos sold in 2007 and compare them to how many Kirkland condos were for sale on January 2, 2008 at 9 am. Again, we do this separately for zip codes 98033 and 98034.
98033 Zip Code: Condos Sold (2007) and For Sale (01/02/2008)
Starting at twelve-o-clock, the green segment represents the 124 active listings as of January 2, 2008 at 9 am; and the following lavender segment the 28 homes “in Escrow” (Subject to Inspection, Pending) at the same time. Starting with the orange segment begins the year 2007 with 29 homes sold in January.
The idea behind this pie-chart is to examine the “absorption rate,” i.e., how long will it take to absorb (sell) the homes currently for sale. Taking a look back it would take about three months to sell all but 10 of the homes for sale at the beginning of 2008. That’s if we assume the same number of sales as in the first three months of 2007 (114 homes sold).
Declining condo sales in the last three months of any year are normal. Usually condo sales pick up again after the new year. Will 2008 repeat that pattern? What if the drop in sales toward the fall and winter of 2007 continues in to the first months of 2008? Then it will take nearly five months to sell those same 124 condos.
98034 Zip Code: Condos Sold (2007) and For Sale (01/02/2008)
The 2007 Kirkland condo sales pattern for the 98034 zip code is similar to the 98033 zip. And, it represents the same question? Will we see the same January-sold jump as in 2007?
Note: the source for these graphs and related bar graphs is the Northwest Multiple Listing Service (NWLS). The translation of the data to graphs is mine and so are any errors.
Tags: 2007 Kirkand condo sales, 98033 condo sales, 98034 condo sales, Juanita, Kingsgate, Kirkland condos
